The Zhitong Finance App learned that Bank of Korea Governor Shin Hyun-song said that a further appreciation of the Korean won is desirable because the Korean won has appreciated sharply since the Bank of Korea switched to a tight monetary policy, which is increasing household purchasing power. Shin Hyun-song said at the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok on Tuesday: “We will maintain our restrictive monetary policy stance until we are convinced that inflation will approach the target level in a timely manner.”

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.